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- Product code: 16014
- ISBN: 0471238635,
ISBN13: 9780471238638,
274 pages, hardback
Published by John Wiley & Sons Inc on 2003
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Description of The Individually Managed Accounts |
This is the first investor friendly book on IMAs. By 2010, nearly five million households will invest more than $2.6 trillion in individually managed accounts (IMAs). Today, nearly $470 billion is invested in IMAs, yet not one book has clearly addressed the topic until now. "Individually Managed Accounts: An Investor's Guide" shows investors what IMAs are, how to use them, and the related pros and cons of investing in them compared to other investment alternatives. Robert Jorgensen, CIMA (San Diego, CA), is the founder and CEO of RunMoney. He also founded Lockwood Pacific Investment Group and held senior positions at E. F. Hutton and Salomon Smith Barney. He is a regular speaker at numerous financial forums.
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Contents of The Individually Managed Accounts |
PART ONE: Mutual Funds vs. Individually Managed Accounts: The Great Debate
1. Know Your Investments
Individually Managed Accounts
The Goal of this Book
2. The Struggle for Tax Efficiency
Disadvantages of Mutual Funds
An SEC Mandate
Two Distinct Taxes
Variable Annuities Aren t the Answer
The IMA Approach
What A Professional Money Manager Can Do for You
3. The Impact of Expenses
All Kinds of Fees
The Supermarket Question
The Chutzpah Fee
Soft-Dollar Fees
The Real Impact of Fees
The Real Issue on Fees
4. The Feeling Isn t Mutual
What s Happening with Your Money?
Index Mutual Funds: the Real Story
Closed-End Funds and Exchange Traded Funds
Conclusion
PART TWO: The Key Ingredients to Building a Professionally Managed Portfolio
5. The Business of Investment Management
Stock Investment Styles
Fixed-Income Investment Styles
How Professional Money Managers
Earn Their Money
6. The Reality of Managing Risk
Types of Investment Risk
Connecting with Investors
Operational Risk
Measuring Investment Risk
Time Out for Some Math Review
Derivatives
7. The Challenge of Asset Allocation
Different Strokes
The Asset Allocation Dialogue Among Professional Money Managers
8. The Folly of Self-Investing
Essential Qualities to Look for in an Investment Professional
What You Think You Know Can Hurt You
Three Investment Traps
Conclusion
9. Managing Your Investment Managers: The Process of Investment Management Consulting
First Things First: The Investment Policy Statement
The Next Step: Developing an Investment Philosophy
Why Work with an Investment Advisor?
How Do You Find a Competent Investment Advisor?
Referrals as Your Ultimate Solution to Finding a Financial Advisor
PART THREE: The Secrets of Success: Money Managers and Clients Revealed Interviews with Some of America s Best Money Management Firms
10. Real Life Stories from the Field
The Reluctant Business Owner
The Divorcee
Mutual Fund Man
The Doctor Who Knew Too Much
The Margin Trader
Newsletter Man
11. Meeting Top-Tier Money Managers: Tax-Efficient and Growth Managers
Tax Efficient Discipline: John Springrose, of 1838 Investment Advisors
The Big Picture on Growth: Jack Sullivan, of Harris Bretall, Sullivan & Smith
Growth By the Numbers: Louis Navellier, of Navellier and Asso
A Twelve-Point Focus: Jim Huguet, of Great Companies
12. Meeting Top-Tier Money Managers: Value and Core Managers
Thoroughly Modern Value: James Hesser, of Rorer Asset Management
Core Strategies: John Waterman, of Rittenhouse Nuveen
13. Meeting Top-Tier Money Managers: International and Fixed Income Managers
Value with a Global Touch: Robert Gallagher, of Brandes Investment Partners
The World of Bonds: Steve Wlodarski, of McDonnell Investment Management
14. IMAs Today and Tomorrow
Four Industry Perspectives
An Industry Poised For Growth
Advice And Guidance
Finding Success is in the Math
Managed Accounts for $50,000
Multidiscipline Accounts: the IMA of the Future?
Financial Technology for the Managed Account Industry
Conclusion
APPENDIX A: Investment Professional Certified Designations
APPENDIX B: Industry Associations
Regulating Agencies
Investment Licenses
IMA Platform Providers
Investor Resources
APPENDIX C: Sample Investment Policy Statement
For: Individual or Family Trust
The Portfolio
Investment Objective
Time Horizon
Risk Tolerances and Performance Expectations
Asset Allocation
Rebalancing Procedures
Duties and Responsibilities
Adoption of the Investment Policy Statement
Investment Glossary
Index
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About Robert Jorgensen |
ROBERT B. JORGENSEN, CIMA, is National Director of Training for The Center for Advisor Development. He is an investment industry consultant with over twenty years of experience providing individually managed account services. In 1997, he was nationally ranked in the top 2 percent of advisors and received Salomon Smith Barney's top award for exemplary service to his clients and peers. In 1999, he became CEO and founder of an online investment advisory firm called RunMoney Corp., which he sold to Persimmon Research Partners in 2002. Jorgensen is a frequent conference speaker and has been featured in articles in The Wall Street Journal, Money, Worth, BusinessWeek, and SmartMoney. He earned his Certified Investment Management Analyst (CIMA) designation through IMCA and the executive training division of the Wharton Business School in 1996. He has a BS degree from the University of Oregon and an MBA from Barrington University.
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